Trump's new top maritime official Louis Sola tells CNBC 'all options on the table' to punish Panama and defend U.S. business, trade and national security.

Panama is inching closer to China, Trump’s new Federal Maritime Commission head Louis Sola tells CNBC, and ‘all options on the table’ to defend U.S. business.

President Donald Trump speaking to House Republicans said that "China essentially has taken over" the Panama Canal.

The Tuesday hearing delved into security issues and foreign influence on the foremost maritime channel connecting the Atlantic and Pacific Oceans.

A bipartisan group of U.S. senators on Tuesday expressed alarm at China's influence on the Panama Canal, which President Donald Trump has vowed the United States would take back.

President Donald Trump's suggestion of the U.S. taking control of the Panama Canal has a legal basis partly due to potential treaty violations involving Chinese activities in Panama.